Estimates are bout 400k for full gut remodel (hvac, plumbing, electrical, roof, mostly new windows, kitchens, and baths, minor re-framing) New plan is for (2) 2B1B units and will rent for 2k and 2500/mo. 1 unit is a larger 2 bedroom.

In 2024, 2-4 family properties in Nassau have been sold nearly two weeks faster than they were selling last year.Further indicating a hot market, median sale prices have increased by 11%, which is more than any of NYC’s boroughs.The top area choices for 2-4 unit multifamily investors have been:Valley Stream & Port Washington: 14 deals, respectivelyLong Beach: 11 dealsLynbrook: 9 dealsSuffolk CountyLike the Bronx, Suffolk, too, saw a 43% increase in 2-4 family inventory.

It is mostly families in our larger units so not much in the way of problems, but there is a bad apple here and there. 

Also spell out as much detail as possible in your scope of work with the contractor, you cannot assume that they are thinking the same thing as you when it comes to finishes and material choices.  

Based on what you guys have said so far, I see this not as ambiguity, but (it might be) a choice available to me as to when I want to consider the business started up (for tax purposes).

Out-of-state investing is a top choice.

Still not sure it makes sense, but worth a look.If you want to be green, just buy a green energy plan from your electric provider if you have a choice of providers/plans.

They should have clearly communicated to you what work required permits and that they could get those or not but the choice would be yours and that you would bear the cost implications either way.

For cash flow, Cleveland and Dayton are excellent choices, offering cash flow around 10-18%.

If a private money partner were to get into this type of deal, they'd have no choice but to take over the deal and making every effort to get it cash flowing before it gets to that point.